Owens Corning Stock Research

Market Summary

USD91.92-0.31

Market Closed

-0.34%

OC Alerts

2 major insider sales recently.
Big fall in earnings (Y/Y)

OC Stock Price

OC RSI Chart

OC Valuation

Market Cap

8.4B

Price/Earnings (Trailing)

6.81

Price/Sales (Trailing)

0.87

EV/EBITDA

4.59

Price/Free Cashflow

4.8

OC Price/Sales (Trailing)

OC Profitability

EBT Margin

16.54%

Return on Equity

27.13%

Return on Assets

11.54%

Free Cashflow Yield

20.83%

OC Fundamentals

OC Revenue

Revenue (TTM)

9.8B

Revenue Y/Y

7.23%

Revenue Q/Q

-9.65%

OC Earnings

Earnings (TTM)

1.2B

Earnings Y/Y

-45.37%

Earnings Q/Q

-73.62%

Price Action

52 Week Range

72.35105.62

(Low)(High)

Last 7 days

-1%

Last 30 days

-5.5%

Last 90 days

4.2%

Trailing 12 Months

-0.9%

OC Financial Health

Current Ratio

1.69

Debt/Equity

0.65

Debt/Cashflow

0.59

OC Investor Care

Dividend Yield

1.71%

Dividend/Share (TTM)

1.57

Buy Backs (1Y)

8.47%

Diluted EPS (TTM)

12.7

Peers (Alternatives to Owens Corning)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JCI	40.4B	25.5B	-5.60%	-7.94%	38.88	1.62	5.44%	-19.02%
CARR	37.1B	20.4B	1.35%	-3.35%	10.34	1.82	-0.93%	110.70%
MAS	11.0B	8.7B	-6.94%	-6.84%	13.05	1.27	3.64%	105.85%
MID-CAP
LII	8.8B	4.7B	-2.69%	-5.03%	17.62	1.86	12.50%	7.13%
OC	8.4B	9.8B	-5.54%	-0.95%	6.81	0.87	14.86%	24.72%
FBHS	7.7B	4.7B	-5.00%	-39.38%	11.25	1.64	-1.63%	-11.10%
WMS	5.8B	3.1B	-9.33%	-33.70%	12.45	1.86	23.54%	90.99%
SSD	4.5B	2.1B	-3.17%	-8.04%	13.44	2.12	34.51%	25.35%
SMALL-CAP
GFF	1.6B	2.9B	-16.46%	56.06%	-10.02	0.56	25.22%	-334.98%
CNR	1.6B	6.1B	0.94%	49.18%	3.14	0.26	9.52%	-37.10%
ROCK	1.6B	1.4B	-12.03%	-0.56%	19.19	1.14	3.75%	8.96%
PATK	1.5B	4.9B	-6.29%	9.34%	4.53	0.3	19.71%	45.92%
PGTI	1.4B	1.5B	8.52%	12.02%	13.94	0.91	28.46%	209.28%
APOG	915.0M	1.5B	-9.95%	-14.22%	13.53	0.7	14.40%	399.00%
IIIN	522.9M	815.3M	-6.30%	-30.77%	4.63	0.64	25.53%	38.49%

Financials for Owens Corning

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	1.6%	9,761	9,607	9,291	8,929	8,498
Gross Profit	0.4%	2,616	2,605	2,508	2,392	2,217
Operating Expenses	20.7%	902	747	866	812	779
S&GA Expenses	2.6%	781	761	744	-	-
R&D Expenses	5.0%	106	101	96.00	94.00	91.00
EBITDA	-6.0%	2,254	2,398	2,172	2,095	-
EBITDA Margin	-7.5%	0.23*	0.25*	0.23*	0.23*	-
Earnings Before Taxes	-8.0%	1,614	1,755	1,527	1,459	1,313
EBT Margin	-9.5%	0.17*	0.18*	0.16*	0.16*	-
Interest Expenses	-1.8%	109	111	114	121	126
Net Income	-7.7%	1,241	1,344	1,134	1,089	995
Net Income Margin	-9.1%	0.13*	0.14*	0.12*	0.12*	-
Free Cahsflow	23.9%	1,760	1,420	1,425	1,457	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.3%	10,752	10,721	10,543	10,316	10,015
Current Assets	-0.3%	3,556	3,567	3,689	3,431	3,097
Cash Equivalents	46.3%	1,099	751	810	748	959
Inventory	0.9%	1,334	1,322	1,254	1,147	1,078
Net PPE	1.9%	3,729	3,660	3,684	3,825	3,873
Goodwill	26.7%	1,367	1,079	983	990	-
Liabilities	1.6%	6,131	6,035	5,956	5,680	-
Current Liabilities	4.5%	2,104	2,014	1,974	1,999	1,697
Long Term Debt	0.1%	2,992	2,988	2,989	2,959	2,960
Shareholder's Equity	-1.4%	4,575	4,640	4,562	4,365	4,296
Retained Earnings	2.0%	3,794	3,719	3,282	2,974	2,706
Additional Paid-In Capital	0.4%	4,139	4,124	4,107	4,091	4,092
Shares Outstanding	-4.6%	92.00	96.00	98.00	98.00	100
Minority Interest	0%	21.00	21.00	22.00	24.00	39.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	23.9%	1,760	1,420	1,425	1,457	1,503
Share Based Compensation	-1.9%	51.00	52.00	51.00	50.00	50.00
Cashflow From Investing	12.0%	-623	-708	-504	-344	-377
Cashflow From Financing	-16.0%	-974	-840	-990	-972	-881
Dividend Payments	4.6%	136	130	123	88.00	108
Buy Backs	18.5%	795	671	637	657	570

Risks for OC

What is the probability of a big loss on OC?

67.3%

Probability that Owens Corning stock will be more than 20% underwater in next one year

44.6%

Probability that Owens Corning stock will be more than 30% underwater in next one year.

31.5%

Probability that Owens Corning stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does OC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Owens Corning was unfortunately bought at previous high price.

Drawdowns

Returns for OC

Cumulative Returns on OC

10.4%

10-Year Cumulative Returns

11.5%

7-Year Cumulative Returns

4.9%

5-Year Cumulative Returns

45.2%

3-Year Cumulative Returns

What are the long-term rolling returns for OC?

FIve years rolling returns for Owens Corning.

Annualized Returns

Which funds bought or sold OC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	MATHER GROUP, LLC.	reduced	-1.02	25,955	373,955	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	6.7	38,892,000	285,395,000	0.31%
2023-03-06	Rockefeller Capital Management L.P.	added	4.71	17,000	146,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-19.31	-957,850	6,740,150	0.01%
2023-02-24	NATIXIS	reduced	-11.53	-469,266	11,243,700	0.06%
2023-02-22	CVA Family Office, LLC	unchanged	-	9,155	115,155	0.03%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	reduced	-8.87	-15,000	1,315,000	0.01%
2023-02-21	Empirical Finance, LLC	added	0.9	36,079	419,079	0.04%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	reduced	-8.26	101	125,101	-%
2023-02-21	MACQUARIE GROUP LTD	added	1.88	1,190,500	12,475,500	0.01%

Latest Funds Activity

Are funds buying OC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own OC

No. of Funds

Owens Corning News

Schedule 13G FIlings of Owens Corning

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	10.26%	9,586,320	SC 13G/A
Jan 27, 2023	blackrock inc.	13.2%	12,334,569	SC 13G/A
Jan 23, 2023	blackrock inc.	13.2%	12,334,569	SC 13G/A
May 10, 2022	vanguard group inc	10.03%	9,740,752	SC 13G/A
Feb 14, 2022	boston partners	4.21%	4,229,563	SC 13G/A
Feb 09, 2022	vanguard group inc	9.73%	9,777,972	SC 13G/A
Jan 27, 2022	blackrock inc.	11.5%	11,559,475	SC 13G/A
Jan 26, 2022	blackrock inc.	11.5%	11,559,475	SC 13G/A
Feb 11, 2021	boston partners	7.05%	7,633,857	SC 13G/A
Feb 10, 2021	vanguard group inc	9.49%	10,271,489	SC 13G/A

OC Fair Value

Owens Corning fair value in different scenarios

The table shows the Fair Value estimates for Owens Corning for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	121.04 31.68%	196.67 113.96%	262.74 185.84%	368.34 300.72%	434.83 373.05%
Current Inflation	112.98 22.91%	179.00 94.73%	234.66 155.29%	323.85 252.32%	379.46 312.82%
Very High Inflation	102.87 11.91%	157.54 71.39%	201.36 119.06%	271.99 195.90%	315.43 243.16%

Historical Owens Corning Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Owens Corning

View All Filings

Date Filed	Form Type	Document
Mar 09, 2023	ARS	ARS
Mar 09, 2023	DEF 14A	DEF 14A
Mar 02, 2023	4	Insider Trading
Feb 24, 2023	PRE 14A	PRE 14A
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading

Latest Insider Trading transactions for OC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-01	SMITH DANIEL T	sold	-1,630,750	97.72	-16,688	evp and chief growth officer
2023-02-17	FESTA ALFRED E	acquired	64,954	99.93	650	-
2023-02-17	Martin Paul Edward	acquired	38,972	99.93	390	-
2023-02-17	Nimocks Suzanne P	acquired	46,467	99.93	465	-
2023-02-17	Williams John David	acquired	38,972	99.93	390	-
2023-02-17	MORRIS W HOWARD	acquired	38,972	99.93	390	-
2023-02-17	CORDEIRO EDUARDO E	acquired	41,271	99.93	413	-
2023-02-17	Elsner Adrienne	acquired	38,972	99.93	390	-
2023-02-17	Lonergan Edward F	acquired	69,951	99.93	700	-
2023-02-17	Mannen Maryann T.	acquired	42,770	99.93	428	-

About Owens Corning

Brian D. Chambers

www.owenscorning.com

20000

Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Canada, Europe, the Asia Pacific, and internationally. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and glass fiber products in the form of fabrics, non-wovens, and other specialized products. Its products are used in building structures, roofing shingles, tubs and showers, pools, flooring, pipes and tanks, poles, electrical equipment, and wind-energy turbine blades applications in the building and construction, renewable energy, and infrastructure markets. This segment sells its products directly to parts molders, fabricators, and shingle manufacturers. The Insulation segment manufactures and sells insulation products for residential, commercial, industrial, and other markets for thermal and acoustical applications; and glass fiber pipe insulation, flexible duct media, bonded and granulated mineral fiber insulation, cellular glass insulation, and foam insulation products used in construction applications. This segment sells its products primarily to the insulation installers, home centers, lumberyards, retailers, and distributors under the Thermafiber, FOAMULAR, FOAMGLAS, Paroc, Owens Corning PINK, and FIBERGLAS Insulation brand names. The Roofing segment manufactures and sells aminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications, as well as synthetic packaging materials. This segment sells its products through distributors, home centers, lumberyards, retailers, and contractors, as well as to roofing contractors for built-up roofing asphalt systems; and manufacturers in automotive, chemical, rubber, and construction industries. Owens Corning was incorporated in 1938 and is headquartered in Toledo, Ohio.

OC Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
NET SALES	$ 9,761	$ 8,498	$ 7,055
COST OF SALES	7,145	6,281	5,445
Gross margin	2,616	2,217	1,610
OPERATING EXPENSES
Marketing and administrative expenses	803	757	664
Science and technology expenses	106	91	82
Goodwill impairment charge	0	0	944
Gain on equity method investment	(130)	0	0
Other expenses (income), net	123	(69)	58
Total operating expenses	902	779	1,748
OPERATING INCOME (LOSS)	1,714	1,438	(138)
Non-operating income	(9)	(10)	(14)
EARNINGS (LOSS) BEFORE INTEREST AND TAXES	1,723	1,448	(124)
Interest expense, net	109	126	132
Loss on extinguishment of debt	0	9	0
EARNINGS (LOSS) BEFORE TAXES	1,614	1,313	(256)
Income tax expense	373	319	129
Equity in net earnings of affiliates	0	1	0
NET EARNINGS (LOSS)	1,241	995	(385)
Net (loss) attributable to non-redeemable and redeemable noncontrolling interests	0	0	(2)
NET EARNINGS (LOSS) ATTRIBUTABLE TO OWENS CORNING	$ 1,241	$ 995	$ (383)
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO OWENS CORNING COMMON STOCKHOLDERS
Basic (dollars per share)	$ 12.85	$ 9.61	$ (3.53)
Diluted (dollars per share)	$ 12.70	$ 9.54	$ (3.53)
WEIGHTED AVERAGE COMMON SHARES
Basic (in shares)	96.6	103.5	108.6
Diluted (in shares)	97.7	104.3	108.6

OC Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

CURRENT ASSETS

Cash and cash equivalents

$ 1,099

$ 959

Receivables, Net, Current

961

939

Inventories

1,334

1,078

Assets held for sale

Other current assets

117

121

Total current assets

3,556

3,097

Property, plant and equipment, net

3,729

3,873

Operating lease right-of-use assets

204

158

Goodwill

1,383

990

Intangible assets, net

1,602

1,617

Deferred income taxes

Other non-current assets

262

249

TOTAL ASSETS

10,752

10,015

CURRENT LIABILITIES

Accounts payable

1,345

1,095

Current operating lease liabilities

Other current liabilities

707

553

Total current liabilities

2,104

1,697

Long-term debt, net of current portion

2,992

2,960

Pension plan liability

Other employee benefits liability

118

157

Non-current operating lease liabilities

152

109

Deferred income taxes

388

376

Other liabilities

299

304

Total Liabilities

6,131

5,680

Redeemable noncontrolling interest

OWENS CORNING STOCKHOLDERS’ EQUITY

Preferred stock, par value $0.01 per share

^[1]

Common stock, par value $0.01 per share

^[2]

Additional paid in capital

4,139

4,092

Accumulated earnings

3,794

2,706

Accumulated other comprehensive deficit

(681)

(581)

Cost of common stock in treasury

^[3]

(2,678)

(1,922)

Total Owens Corning stockholders’ equity

4,575

4,296

Noncontrolling interests

Total equity

4,596

4,335

TOTAL LIABILITIES AND EQUITY

$ 10,752

$ 10,015

[1]	shares authorized; none issued or outstanding at December 31, 2022 and December 31, 2021
[2]	shares authorized; 135.5 issued and 91.9 outstanding at December 31, 2022; 135.5 issued and 100.4 outstanding at December 31, 2021
[3]	43.6 shares at December 31, 2022 and 35.1 shares at December 31, 2021